Ethereum’s Bullish Comeback: Are We on the Verge of a Long-Term Rally?

Ethereum ($ETH ) has staged a strong recovery, surging above $1,800 at the close of April alongside a broader crypto market rebound. After months of downside pressure since the December 2024 correction, this price action may be the early signal of a trend reversal, sparking optimism among investors.

Renowned crypto analyst Burak Kesmeci has weighed in with a compelling observation. In a recent post dated May 2, Kesmeci highlighted that Ethereum’s short-term holder (STH) activity is approaching a historically bullish threshold. According to his analysis, if short-term holders—wallets that acquired ETH in the last 155 days—cross the 4 million mark (currently at 3.92 million), this could unlock a strong bullish phase, based on prior market cycles in 2022 and 2024.

Short-term holders are often driven by speculative momentum, and a surge in their numbers usually reflects renewed retail interest and inflows. Kesmeci argues that surpassing this STH threshold may indicate Ethereum has built enough buy-side pressure to maintain and expand on its current gains.

Adding to the bullish case, long-term holders (LTH)—wallets holding ETH for more than 155 days—have now grown to 104.24 million, reinforcing deep investor conviction in ETH’s future. Historically, rising LTH metrics reflect a maturing market, where investors are opting to hold through volatility, betting on future upside.

Bottom Line: Ethereum is gaining traction again, and all eyes are on short-term holder metrics. If we break above that 4M STH mark, it may confirm a new bullish cycle has begun.

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